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Transaction / Assets Seller Buyer € MM
Social Security Auctions a Building in Madrid Chamberi District For €7.6 Mn
19/12/2014 – El Pais
The Social Security Fund has awarded a six-storey building (plus attic area) located at 41 Breton de los Herreros street to a co-operative managed by Domo Gestora. The property stands in Chamberi, one of the northern residential neighborhoods of Madrid found within boundaries of the central districts.
Starting at an asking price of 5.8 million, the deal closed at 7.565 million euros.
Once rehabilitated, the conveyance will feature 29 apartments of one to three bedrooms with built areas ranging from 66 to 135 square meters. Prices will start from 206.000 euros plus VAT. The block will be situated inside a gated development with gardens. On the ground floor, there is going to be a 120 square meter retail space.
Other co-ops of Domo have recently acquired several upmarket residential plots: one on the Raimundo Fernandez Villaverde street close to the Paseo de la Castellana avenue and another in the district of Retiro.
Original story: El País
Translation: AURA REE